Market Research Future Insights
According to MRFR analysis, the global Smartwatch market is expected to register a CAGR of ~17.34% from 2022 to 2030 and hold a value of over USD 109.28 million by 2030.
A smartwatch is a digital gadget with atomic clock accuracy that is worn on the wrist. To receive notifications of emails, messages, and incoming calls, it is connected to a smartphone. It has many programs that provide further functionality such as showing maps and weather data as well as stock prices. Additionally, it can send and receive text messages as well as phone calls. Its demand is rising globally as pedometers and heart rate monitors enable users to track their health. Global demand for smartwatches has been driven by the increasing rates of urbanization and the demand for aesthetically appealing, technologically advanced products to better meet client requirements such as time schedules and numerous capabilities in one device. However, a sizeable portion of millennials has started wearing smartwatches as a result of rising costs associated with tracking their normal work hours and luxury expectations. The majority of smartwatches are made to work in tandem with smartphones as information gateways, allowing these devices to share phone notifications.
Key Players
Some of the key market players are
- Amazfit
- Apple Inc
- Fitbit Inc
- Fossil Group
- Garmin Ltd
- Google Inc
- Huawei Technologies Co. Ltd
- Imoo, LG Electronics Inc
- Samsung Electronics Co. Ltd.
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Report Scope:
Report Attribute/Metric | Details |
Market Size in 2030 | USD 109.28 million |
Growth rate: | CAGR of 17.34% from 2020 to 2030 |
Forecast Period | 2020-2030 |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Smartwatch Market USP Covered
Regional Analysis
North America has the highest market share due to the region's high disposable income and good quality of life. Europe is expected to be the second-largest market for smartwatches, with nations such as Germany, France, and Italy leading the way in terms of wearable technology adoption. Due to technological advancements by regional businesses such as Titan, the entry of large global competitors, and rising demand for high-end wearable gadgets, Asia-Pacific is likely to be the fastest-growing market.
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Market Segmentation
The Global Smartwatch market has been segmented into Operating Systems and Applications.
Based on the Operating System, the market has been segmented into iOS, Android, Tizen, Linux, and Others.
Based on Application, the market has been segmented into Personal Assistance Safety, Health / Wellness, Media and Entertainment, Sports, Communication, and Others.
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